David
Milford,#2Consumer Comment
Sat, August 13, 2005
Got a "pre-approved" letter from the above named company today. Even without reading the postings here I wouldn't have taken the bait. Huge problems with the offer. 1 - Credit line of "up to $3250". Biggest weasel phrase in the English language. Sent for a card from Capital One a while back with similar offer. When the card arrived, my credit line was a whopping $300. And this for a card supposedly for my business. Guess if I'm in the roadside lemonade business it might be useful. 2 - STARTING interest rate of 27.5%. That's not even the default rate!!! 3 - In the fine print "half of your credit line will be available immediately." If you make payments on time for 4 months, THEN they'll give you access to it all. Does this offer include the vaseline or do I have to supply my own? So be warned! Unless the card states that your credit line will be "at least..." don't bite.